Most trading psychology articles focus on minimizing weaknesses rather than identify your strengths in the trading platform. This is probably due to the common idea that when you address your weak points, it automatically improves your trading performance, but it is not always the case.
On this occasion, let’s focus on a different approach, building your strengths first so you can solve your shortcomings. But before we move forward, what exactly are the strengths and why is it important to identify them?
In short, a fortress is something you are good at. But unless you apply that particular force to achieve a productive result, you may not be able to recognize it or even see it as a weakness.
Identify your strengths in trading
So, how can you identify your strengths in the business arena? Here are some trading strategies that can help:
1. Check Your Trading Journals
If you read my trading psychology blog regularly, you will know that I often emphasize the importance of keeping a detailed trading diary. So put them to good use! Review your operations records and identify the cases in which you believe you performed well.
Identify your strengths in the top ten most profitable operations and take note of the following: Which pairs did you operate? Did you keep in your trading plan? Did you base them solely on techniques, fundamentals or were they a combination of both? How long did you keep in your operations?
In addition to asking you these questions, identify other common factors that helped you earn those trades.
2. Make a list of your strength as a teacher
I know it can be a daunting task, but the renowned psychologist Brett Steenbarger came up with the idea of how we can do it. Let’s use the VIA survey, created by VIA Institute on Character to help people evaluate their strengths.
Try to identify your strengths in the top five:
Creativity, curiosity, the openness of mind, love of learning, wisdom, courage, persistence, integrity, vitality, love, kindness, social intelligence, citizenship, justice, leadership, forgiveness, modesty, prudence, self-control, appreciation of beauty, gratitude, optimism, humor, spirituality.
Fact? Now what I want you to do is think of SPECIFIC ways of how you could use them in your daily operations.
For example, I classified the love of learning as my greatest strength. I think I can use this more by studying different systems and reading more books about trading.
3. Ask For The Opinions Of Other People.
Although self-reflection is useful, we can overlook some traits that other people can easily identify your strengths in us. So take the time to ask for an external opinion. Ask your colleagues, trainer, and friends what traits you have, that you think to make a good trader.
Compile your entry and compare them with your own list. It may surprise you to see how other people perceive you. As well as identifying your weaknesses, it is equally important to know what is good, regardless of whether you are on a losing streak or are looking to improve your game.
Do not get me wrong the point of this article is not to ignore the importance of being able to identify your weaknesses. I simply believe that to identify your strengths, is so important to reach your full potential as a trader.